First Manhattan Co. Sells 25,991 Shares of DowDuPont Inc (DWDP)

First Manhattan Co. Sells 25,991 Shares of DowDuPont Inc (DWDP)

First Manhattan Co. cut its holdings in shares of DowDuPont Inc (NYSE:DWDP) by 6.8% during the first quarter, HoldingsChannel reports. The firm owned 358,212 shares of the company’s stock after selling 25,991 shares during the period. First Manhattan Co.’s holdings in DowDuPont were worth $19,096,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in DowDuPont during the fourth quarter valued at approximately $1,073,626,000. Oregon Public Employees Retirement Fund lifted its position in DowDuPont by 5,163.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,415,618 shares of the company’s stock valued at $251,000 after acquiring an additional 13,160,717 shares during the last quarter. Geode Capital Management LLC lifted its position in DowDuPont by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 27,423,521 shares of the company’s stock valued at $1,463,987,000 after acquiring an additional 1,648,165 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in DowDuPont by 1,905.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,586,591 shares of the company’s stock valued at $84,851,000 after acquiring an additional 1,507,496 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in DowDuPont by 13.3% during the fourth quarter. Macquarie Group Ltd. now owns 12,226,539 shares of the company’s stock valued at $653,882,000 after acquiring an additional 1,438,375 shares during the last quarter. Hedge funds and other institutional investors own 69.18% of the company’s stock.

A number of equities research analysts recently commented on the stock. Barclays decreased their target price on shares of DowDuPont from $58.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday. SunTrust Banks decreased their target price on shares of DowDuPont to $37.00 and set a “hold” rating for the company in a research report on Tuesday. ValuEngine cut shares of DowDuPont from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Bank of America reissued a “neutral” rating and set a $40.00 target price (down previously from $44.00) on shares of DowDuPont in a research report on Friday, May 3rd. Finally, BMO Capital Markets decreased their target price on shares of DowDuPont from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. DowDuPont has an average rating of “Hold” and a consensus target price of $56.05.

NYSE DWDP opened at $30.99 on Friday. The firm has a market capitalization of $81.26 billion, a price-to-earnings ratio of 7.54, a P/E/G ratio of 1.59 and a beta of 1.29. DowDuPont Inc has a 12-month low of $30.82 and a 12-month high of $48.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.72 and a quick ratio of 1.14.

DowDuPont (NYSE:DWDP) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.14. The business had revenue of $19.65 billion during the quarter, compared to analysts’ expectations of $19.47 billion. DowDuPont had a net margin of 3.88% and a return on equity of 9.05%. The business’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the company posted $1.12 earnings per share. As a group, equities analysts anticipate that DowDuPont Inc will post 2.19 earnings per share for the current year.

The business also recently declared a dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, April 26th will be issued a $0.14 dividend. The ex-dividend date is Thursday, May 2nd. DowDuPont’s dividend payout ratio is currently 13.63%.

About DowDuPont

DowDuPont Inc, through its subsidiaries, engages in agriculture, materials science, and specialty products businesses in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. The company's Agriculture segment produces, and sells hybrid corn seed and soybean seed varieties; sunflowers, wheat, alfalfa, canola, cotton, rice, and sorghum; silage inoculants; and crop protection products that include weed control, disease control, and insect control.

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